Neighbour wants me to buy his Toyota Hilux Vigo - How much?

[MrPlum]

Sorry if this is in the wrong thread. Ok. I have no idea what this car is worth or if it's any good. Perhaps someone can help me out?

Here's the spec..

Toyota Hilux G Vigo D-4D 2500 '2006'. 70,000Km on the clock. Purchase price was 614k inc VAT.

Some minor repairs needed... around 16k THB. The finance outstanding is about 370k THB over 54 months. Owner paid a 150k deposit.

The owner wants 100k plus I take over the finance. Down from 150k. If paying off the finance is 300k, total cost to me would be 400k THB.

Is this too much or about right?

Are there better cars out there for similar price? If so, where do I look?

Thanks.

.

[Wanderlust]

This is a pickup, correct? If so, then i think you could get a better deal elsewhere, and I personally would not want to take over someone else's finance deal - is this even allowed by the finance company? It sounds more like he needs to sell for some reason rather than you really want to buy, so unless you want to do him a favour he either needs to drop his price or you should look elsewhere, and I would recommend buying new if you have the resources.

[PeteC]

Not a good deal at 400K IMHO. For about 800 K you could buy a new, top of the line LTD 4WD model with 3.0 diesel and all the bells and whistles.

I would tell him you'll take over the financing and pay for the repairs and that's it, no 100K. Pete

PS: The used car lots (including at dealer locations) are filled to the brim with lightly used diesel pick up's, due to the jump in diesel fuel prices. Very good deals to be had.

[STEVE G]

Toyota Hilux G Vigo D-4D 2500 '2006'

I’m not trying to be pedantic, but just for clarification, aren’t 2006 D4D Vigos sold in Thailand all 3000cc? I think they were sold elsewhere with the older 2500 engine.

[PJG]

I think he would get about 300,000 for it part exchange. Offer 325,000 cash and he clears the finance would be a good deal.

Buying cars from car lots can be risky in Thailand as you are never sure that the bits under the bonnet are genuine. Also it is also difficult to check if the car has had a haircut or not.

If you are going to take over finance it is much better to buy a new car.

Good luck

[MrPlum]

Toyota Hilux G Vigo D-4D 2500 '2006'

I’m not trying to be pedantic, but just for clarification, aren’t 2006 D4D Vigos sold in Thailand all 3000cc? I think they were sold elsewhere with the older 2500 engine.

No problem. It's useful to get all angles. I didn't see the log book just the finance doc with the specs which said 2500. It's a pick-up. No 4WD.

I think he would get about 300,000 for it part exchange. Offer 325,000 cash and he clears the finance would be a good deal.

Buying cars from car lots can be risky in Thailand as you are never sure that the bits under the bonnet are genuine. Also it is also difficult to check if the car has had a haircut or not.

If you are going to take over finance it is much better to buy a new car.

Good luck

Thanks. I had already decided 350k maximum. I will suggest to the owner that I will top any offer from a dealer but not by much. 325k cash should do it.

I understand about dodgy dealers, yet I would have thought low mileage, under 3 year old cars would be more hit than miss. 70,000km is a tad on the high side.

Also understand, for obvious reasons, about fuel economy. I would prefer a more fuel-efficient car. Especially if Goldman Sachs prediction of $200 oil comes about, it could be a mistake to buy a gas-guzzler now.

[Guess]

My understanding is that D4D or D-4D is the engine which can be 2500cc or 3000cc. The other option is the body variant. The body variant affects the new price and second hand value quite considerably.

There is the 2 seater cab which is only really used as a workhorse and then the extra cab and four door versions. Both the 4 seater versions come with 4WD as an option.

So the new price difference between a single cab 2. 5 and a double cab 4WD 3.0 can be as much as 300,000 baht. The new price you quoted could apply low middle to middle of the range depending on the extras. All this has a some effect on the second hand value. Extras tend not to keep their value.

More to the point though is the fuel economy. You may get a pleasant surprise at the fuel consumption of the 2.5 2WD but I have heard that it can be significantly less with a 4WD.

Taking on someone else's finance payments is accepted here in Thailand but when the payments are complete you will need to get the previous owner to comply to get the papers transferred from the bank to you unless you draw up a contract in advance. I believe banks will facilitate that.

Just a thought here. If the guy has genuine problems making the repayments maybe he should consider renting it out. It only needs to be out for one week every month to meet the payments.

I agree with post regarding the payment. Take on the repayments but no cash. You could always offer him a loan of 100,000 with interest on par with the finance on the truck. If you do take it on check how far in arrears he is.

BTW 54 repayments on a 2006 truck doesn't stack up even accounting for 2 or 3 months arrears. Maybe he got a 72 month loan but I have never heard of that but, also he may have paid in full and financed later.

In the second case the whole deal needs very close scrutiny. The finance company may not be too savoury.

[MrPlum]

Guess. You are veritable mine of information on every topic!

I believe there were 80 payments originally but can check. I have no wish to take on debt when I have the cash to pay it off. I'm estimating a cash settlement will reduce the debt from 370k to 300k (estimated). Unless they have early redemption penalties.

Also need to gen up on the actual process of transferring ownership and payment. Who keeps the papers etc.. and when do I cough up the cash. I have no wish for the gent to drive off with his swag.

[Spitfire]

Lots of good advice on here Mr P,

I'm a sceptic on this sort of deal, too many variables and opportunities for it all to end up going down the toilet.

If you want a decent 2nd hand Toyota, I'd probably go have a look in that Toyota 'Sure' place that give warrenties etc.

Most, but not all, Thais do not fill me full of confidence about taking care of their pickups/cars, not much comprehention of 'preventitive servicing' etc.

Think he might be just being economical with the truth and reason for selling.

Guess is about right aswell.

[VincentD]

MrPlum

Not wishing to be nosey or anything, but from the sound of the first post you seem to be under some pressure to buy from this particular person?

The value on the secondhand market for this model starts from the high three-hundreds, but from dependable dealers and no need for repairs.

Did he get financing through a bank or proper finance company, as opposed to one of these shade tree moneylenders? Someone once posted about having his vehicle being physically repossessed even though 'everything' had been paid for in cash.

Other things to consider when owning a pickup.

- does it have a roof in the back? No? You can't ferry people on the highway then. If you do, you need some kind of paperwork to carry in the car to show the boys in brown you've paid tax for this extra installation.

- do you really need a pickup, when a car will work? A friend had a pickup that was borrowed so often he threw up his hands in despair. He didn't really need the carrying capacity so eventually got a sedan. No one wants to borrow that.

- if it is a diesel, the prices of fuel are through the roof. Many pickup owners are replacing these engines with petrol engines imported from Japan to keep running costs down.

- what colour is the registration plate?
black letters on white background - private vehicle, no real problems.
green letters on white background - goods vehicle, restrictions apply.
blue letters on white background - passenger service vehicle. See above.

I'd suggest looking at your options again.

[Checker]

Great reply VincentD. I am currently looking for a second hand vehicle and am not feeling comfortable with any of the dealers. The information provided re registration plate colours will assist me greatly.

[MrPlum]

MrPlum

Not wishing to be nosey or anything, but from the sound of the first post you seem to be under some pressure to buy from this particular person?

The value on the secondhand market for this model starts from the high three-hundreds, but from dependable dealers and no need for repairs.

Did he get financing through a bank or proper finance company, as opposed to one of these shade tree moneylenders? Someone once posted about having his vehicle being physically repossessed even though 'everything' had been paid for in cash.

Other things to consider when owning a pickup.

- does it have a roof in the back? No? You can't ferry people on the highway then. If you do, you need some kind of paperwork to carry in the car to show the boys in brown you've paid tax for this extra installation.

- do you really need a pickup, when a car will work? A friend had a pickup that was borrowed so often he threw up his hands in despair. He didn't really need the carrying capacity so eventually got a sedan. No one wants to borrow that.

- if it is a diesel, the prices of fuel are through the roof. Many pickup owners are replacing these engines with petrol engines imported from Japan to keep running costs down.

- what colour is the registration plate?
black letters on white background - private vehicle, no real problems.
green letters on white background - goods vehicle, restrictions apply.
blue letters on white background - passenger service vehicle. See above.

I'd suggest looking at your options again.

A bit of pressure from them. None from me. Just in a position to take advantage of an opportunity. If it's not attractive enough, then I won't buy.

The repairs are cosmetic. He's dinked the front and rear and there's a small crack in the windscreen, nothing serious.

I have a pick-up now. No-one's ever borrowed it and have driven to the g/f's village a couple of times with a family of 12 in the rear. Was stopped once and you are right, had to pay for taxis to get them off the highway.

This vehicle has a couple of enhancements, like side running rail and side wind deflectors (hope I've got that right).

I have 3 weeks before the owner goes abroad, which is his reason for selling. If he will take, say 10k above what a dealer gives him, that should be a saving on the street price and goes in the pot, so to speak, as far as fuel costs are concerned.

Nothing is set in stone. I haven't looked at what else is out there yet, since the offer was only two days ago. Will start this afternoon.

Very helpful input from everyone. Thank you!

[Super Joe]

Also need to gen up on the actual process of transferring ownership and payment. Who keeps the papers etc.. and when do I cough up the cash.

Just finished my Toyota finance, finance company hold the papers until final payment, then you apply for the papers to be put in your name (or a Thais!?).
We are still waiting a month later, but are promised it soon. It is difficult to chase them up without turning up at their offices in Bangkok somewhere.
The finance company Toyota used with us was Kiatnakin Bank, the owner should have the original agreement for review. They're all in Thai unfortunately. He will also have last months statement which details how much is outstanding.

SJ

[JW]

Mr Plum,

Ref windscreen - having a nightmare to get my windscreen repaired - first one they smashed putting in and the second one is the worst job i have ever seen - seals popping out, sealant all over the place. Bear this in mind as a cracked windscreen should be replaced.

For me if youve got a good truck why bother with any possible hassle.

[Super Joe]

PS: I understand that if 500,000 Baht is outstanding, you have to pay off that full amount, ie: 450k capital + their 50K of future month's interest. No discount for early pay off as back 'home'.
Obviously that needs checking out and is hopefully wrong.

SJ